Recent issue about halal and haram in forex

Usually i will deny any news or statement from any bureau who said forex cannot be played because there are few rules and regulation that Islam did not allowed. Most of islam economist has been agreed forex is Haram because of leverage. They said leverage is wrong in concept of buying selling. Gold must be trade with Gold, silver must be trade with silver. There is no loan concept to leverage the capital, with 1 one ringgit after leverage 1:500, that 1 ringgit can buy until 500 lot per price. So they assume 1 ringgit can turn to 500 ringgit with using leverage concept.

Leverage in financial instrument is a must, especially for who own micro account <1000 usd per margin. Less than USD 1000.00 is consider mini account. If you were deposit USD 1000.00 into your trading account, broker will offer you what kind of leverage that you prefer. It will start from 1:100 1:500 and 1:1000. This leverage is important and must be suit with our trading plan and money management. For normally trader will takes 1:200 up to 1:500, is quite rare for 1:1000 because for me too risky.

With using leverage you can adjust your lot and position sizing. for me there is no benefit for my money it just using when i want to enter and open the position. Leverage in forex is not same like leverage in banking system. with rm 1000.00 you can leverage up to rm 2000.00 and you walk out inside the bank with rm 2000.00 loan. So why this case our mufti did not bother ? this is the true insane leverage and interest.

I am not buyer with any who's who. i am just an independent trader and observer with current issue. I think if you are confident with this games, just proceed. Dont turn back.. until now i did not see any holes to claim or said forex is illegal.

Regards.